Bill > S530

This bill aims to preserve space for the creative economy by allowing municipalities to establish a Municipal Creative Space Trust Fund. The key provisions of the bill include: 1. Defining "creative space" as space used primarily for the creation and practice of art, culture, and creative expression, and "presentation space" as space used primarily for showcasing, presenting, and exhibiting art, culture, and creative expression. 2. Allowing municipalities to establish a Municipal Creative Space Trust Fund to provide for the creation and preservation of creative and presentation spaces. 3. Establishing a board of trustees to oversee the trust fund, with representation from the municipality's chief executive officer, local cultural council, and municipal arts and culture board or commission. 4. Granting the board of trustees various powers, such as accepting and receiving property, purchasing and retaining property, selling or leasing property, and managing or improving real property. 5. Exempting the trust fund from state and local taxes, and treating it as a public employer and the trustees as public employees for certain legal purposes. 6. Requiring annual auditing of the trust fund's books and records by an independent auditor, with a report submitted to the Massachusetts Cultural Council.